Caspin Resources Limited Completes AU$6 million Placement to Accelerate Bygoo Tin Project Exploration

Source: Kapitales Research

Highlights:

• Caspin Resources Limited (ASX: CPN) has successfully raised AU$6.0 million through a single-tranche equity placement of 44,444,444 new shares at AU$0.135 per share.
• The raised funds will support exploration efforts at the Bygoo Tin Project, with a focus on increasing the resource at the Kelpie Deposit and conducting regional exploration activities.
• As of the latest update, the stock’s CMP stood at AU$0.145, which marks a 6% drop compared to the previous day's closing price, reflecting the market’s response to the recent capital raise.

Caspin Resources Limited Completes Successful AU$6M Capital Raise

Caspin Resources Limited (ASX: CPN) has announced the completion of a AU$6.0 million capital raising, with commitments from both new and existing investors. The placement involves the issue of 44,444,444 new shares at AU$0.135 per share, reflecting strong investor confidence in the company’s Bygoo Tin Project. At the time of writing, the company’s shares were priced at AU$0.145, marking a 6% decline, as the market reacted to the dilution resulting from the placement.

Allocation of Funds to Accelerate Exploration

The funds raised from the placement will primarily be used to accelerate ongoing exploration efforts at the Bygoo Tin Project in New South Wales. A key focus will be expanding the resource at the Kelpie Deposit, which currently holds an inferred resource of 3.94 million tonnes at 0.5% tin, containing 19,300 tonnes of tin. Additionally, the capital will fund regional reconnaissance work to identify further potential exploration targets across the Bygoo Project area.

Placement Terms and Timetable

The placement was executed within the company’s available placement capacity, with shares issued at a price reflecting a 12.9% discount to the last traded price of AU$0.155. The price of the offer was set 16.4% lower than the average price over the past 10 days, based on volume-weighted calculations. Key dates for the placement include settlement on 18 March 2026, with shares expected to be issued and commence trading on 19 March 2026.

Progressing the Bygoo Tin Project

Caspin’s Bygoo Tin Project is located in the Wagga Tin Belt, a region rich in tin resources, with the Kelpie Deposit showing strong growth potential through extension drilling. With the successful placement, Caspin is now well-positioned to expand exploration efforts, with the ultimate goal of developing Australia’s highest-grade open-pit tin project. As global tin prices remain strong, Caspin is optimistic about the future of the Bygoo project and the potential for significant resource growth.

Note- All data presented is based on information available at the time of writing.

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